Adolor Shares Plunge; Drug Trial Was Unsuccessful

p> Shares of Adolor Corp. (ADLR) lost more than half their value Tuesday after a key drug trial wasn't successful, putting into question whether a drug to treat bowel dysfunction will get to market. Drug Pipeline Database

Adolor's stock fell 52% to $11.94, after the company and drug giant GlaxoSmithKline PLC (GSK) reported mixed results from two Phase III trials of alvimopan to treat opioid-induced bowel dysfunction in patients with chronic non-cancer pain.

Phase III trials usually represent the last hurdle before drugs get regulatory approval, as they are larger in scope than Phase I and Phase II tests. Alvimopan is Adolor's lead product candidate.

GlaxoSmithKline shares slipped more than 1% in London trading.

The companies said one study achieved statistical significance while the other didn't.

The study that did not achieve statistical significance showed supportive evidence in a key secondary endpoint of change in average weekly frequency of spontaneous bowel movement, the companies stated.

The companies will continue to investigate the data.

The companies added a Phase II-b study to study patients with chronic cancer pain taking opioids and experiencing the symptoms associated with OBD also didn't meet the primary endpoint.